SINGAPORE LOGISTICS INDUSTRY SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Singapore Logistics Market Analysis:

It is projected that the Singapore freight and logistics market will experience an 8% growth rate between 2022 and 2027. Despite the challenges posed by the COVID-19 pandemic, the Maritime and Port Authority of Singapore (MPA) has taken measures to ensure minimal disruption to the shipping industry, recognizing its crucial role in supporting Singapore’s efforts to overcome the pandemic. The Port of Singapore has remained operational for cargo operations and marine services, including bunkering, ship supplies, and shipyard repairs, to ensure the continuity of commerce by sea and global supply chains.

Singapore has reinforced its position as a global logistics hub, leveraging its competitive advantages, such as the efficiency, reliability, and resilience of its network, amidst the COVID-19 pandemic. Given Singapore’s status as a major transshipment hub and gateway to key regions, any changes in the global shipping industry have a significant impact on its logistics market, particularly in sea and air transportation. Additionally, Singapore is significantly influenced by shifts in the global manufacturing sector.

To mitigate any disruptions in Singapore’s supply chain network, government agencies have taken proactive measures to provide alternative options within the network. Singapore has also shifted towards higher value-added logistics services, such as contract logistics, which offer tailored and end-to-end solutions for companies.

Leading international logistics firms, including DHL, UPS, and DB Schenker, have established their regional headquarters in Singapore, while multinational corporations, such as GlaxoSmithKline and Unilever, have located their regional supply chain management teams in the country.

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